MUSCAT – The Central Bank of Oman (CBO) said on Wednesday it will cut its interest rate on repo operations with local banks by 25 basis points, effective Thursday.
The repo rate will fall to 4.75% from 5.0%, the CBO said in a statement.
The move is aimed at ensuring adequate liquidity in the banking system and supporting domestic financial stability, the central bank added.
Read More
- Oman, Iran agree framework for safe shipping corridor through Strait of Hormuz
- Thunderstorms, strong downdraft winds sweep parts of Oman
- Saudi Crown Prince sends written message to His Majesty Sultan Haitham
- Oman FM arrives in Tehran, discusses safe passage of ships through Strait of Hormuz
- CPA seizes 1,668 soft drinks, 177 expired juice cans in Oman
Repo, or repurchase, operations are a key tool used by the CBO to manage short-term liquidity by providing funds to banks against collateral.
